There Will Be Blood. This Week U.S. Airlines Will Begin Reporting How Big Their Third Quarter Losses Were
The butcher’s bill will be revealed by U.S. airlines Tuesday when Delta leads off the (now euphemistically named) third quarter “earnings” report season. And the only question is not whether, but by how much will the third quarter rank as the single worst in industry history?
Based on analysts’ current consensus estimates the Big Four U.S. carriers – Delta, American, United and Southwest – are expected to lose almost $8.5 billion combined in the quarter on a pre-tax operating basis. Throw in proportionately similar, albeit much smaller losses from the rest of America’s airlines, plus taxes, write-offs and other below-the line losses